CMG vs LULU: Correlation
Chipotle Mexican Grill (CMG) and Lululemon Athletica (LULU) show a moderate relationship: their 3-year correlation of weekly returns is 0.35.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CMG and LULU?
Across a 3-year window, the weekly returns of CMG and LULU correlate at 0.35, moderate. Recent behaviour matches the longer record: 0.43 over 1 year against 0.35 over 3. Stretching to 5 years gives 0.38, with an annualized covariance of 521.5 %².
By 3-year correlation, LULU places #22 of the 36 assets tracked against CMG. The last year tells two different stories: CMG led by 31.4 percentage points, -12.7% for CMG against -44.1% for LULU. Across three years, the rolling one-year figure varied moderately, from 0.08 to 0.57.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
CMG vs LULU: side by side
| CMG (Chipotle Mexican Grill) | LULU (Lululemon Athletica) | |
|---|---|---|
| 1-year return | -12.7% | -44.1% |
| 5-year return | -2.9% | -72.3% |
| Volatility (ann.) | 35.7% | 41.8% |
| Beta vs S&P 500 | 0.89 | 0.98 |
| Max drawdown (3Y) | -58.9% | -79.4% |
| Market cap | $47.1B | $13.1B |
| P/E (trailing) | 34.5 | 9.4 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Consumer Discretionary | Consumer Discretionary |
Year-by-year returns
| Year | CMG | LULU |
|---|---|---|
| 2022 | -20.6% | -18.2% |
| 2023 | +64.8% | +59.6% |
| 2024 | +31.8% | -25.2% |
| 2025 | -38.6% | -45.7% |
| 2026 | +0.6% | -44.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CMG and LULU good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.35 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between CMG and LULU?
As of 2026-08-27, the correlation of weekly returns between CMG and LULU is 0.35 over 3 years, 0.43 over 1 year and 0.38 over 5 years.
Is LULU a good diversifier for CMG?
Yes, to a useful degree: a correlation of 0.35 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.35 mean?
On the −1 to +1 scale, 0.35 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/cmg-vs-lulu.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cmg-vs-lulu/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CMG correlations · LULU correlations
